The global automotive parts magnesium die casting market size reached US$ 3.1 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 5.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.9% during 2023-2032.
Automotive parts die casting represents an economical mechanized metal processing technique, wherein the melted liquid is pressed into a mold under filling speed and high pressure to manufacture various vehicle components. It involves pressure vacuum and squeeze and pressure die casting as standard methodologies, which help discharge mold cavity gas, offer higher tensile strength, and solidify metals. These procedures employ magnesium metal due to its excellent dimensional stability, exceptional dampening capacity, and better corrosion resistance than carbon, steel, and aluminum alloys. Apart from this, automotive parts magnesium die casting ensures the strength-to-weight ratio of structural metals, improves reliability, simplifies designs, minimizes distortion or casting stress, and reduces the effects of thermal fatigue. Based on these properties, it finds extensive applications in the production of engine parts, gearbox, motor covers, auto forks, connectors, and heat sinks.
2. What is the expected growth rate of the global automotive parts magnesium die casting market during 2024-2032?
3. What are the key factors driving the global automotive parts magnesium die casting market?
4. What has been the impact of COVID-19 on the global automotive parts magnesium die casting market?
5. What is the breakup of the global automotive parts magnesium die casting market based on the production process?
6. What is the breakup of the global automotive parts magnesium die casting market based on the application?
7. What are the key regions in the global automotive parts magnesium die casting market?
8. Who are the key players/companies in the global automotive parts magnesium die casting market?
Automotive parts die casting represents an economical mechanized metal processing technique, wherein the melted liquid is pressed into a mold under filling speed and high pressure to manufacture various vehicle components. It involves pressure vacuum and squeeze and pressure die casting as standard methodologies, which help discharge mold cavity gas, offer higher tensile strength, and solidify metals. These procedures employ magnesium metal due to its excellent dimensional stability, exceptional dampening capacity, and better corrosion resistance than carbon, steel, and aluminum alloys. Apart from this, automotive parts magnesium die casting ensures the strength-to-weight ratio of structural metals, improves reliability, simplifies designs, minimizes distortion or casting stress, and reduces the effects of thermal fatigue. Based on these properties, it finds extensive applications in the production of engine parts, gearbox, motor covers, auto forks, connectors, and heat sinks.
Automotive Parts Magnesium Die Casting Market Trends:
The considerable expansion in the automotive industry and the increasing need for lightweight commercial and passenger vehicles, owing to changing consumer preferences, are primarily driving the market growth. Automotive parts magnesium die casting is extensively used to manufacture various car components to enhance automobile fuel mileage and reduce vehicle weight without compromising their durability. Furthermore, the rising environmental concerns have encouraged governments to implement stringent green norms for mitigating carbon emissions, which, in turn, is supplementing the demand for magnesium and reinforced plastic dies in the market. In line with this, the fueling utilization of the industrial Internet of Things (IIoT) by key players during the automotive parts magnesium die casting procedure to improve manufacturing efficiency and offer a higher productivity rate is impelling the market growth. Apart from this, strategic collaborations amongst original equipment manufacturers (OEMs) to enhance casting methods and escalating awareness regarding the benefits of using magnesium over other alloys are positively augmenting the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global automotive parts magnesium die casting market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on production process and application.Breakup by Production Process:
- Pressure Die Casting
- Vacuum Die Casting
- Gravity Die Casting
- Squeeze Die Casting
Breakup by Application:
- Body Parts
- Engine Parts
- Transmission Parts
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Chicago White Metal Casting Inc., Dynacast International Inc. (Form Technologies Company), Georg Fischer Ltd., Gibbs Die Casting Corporation (Koch Enterprises Inc.), Meridian Lightweight Technologies, Morimura Bros. Inc., Ortal Diecasting Ltd., Pace Industries (Leggett & Platt Incorporated), Ryobi Limited, Sandhar Technologies Limited, Shiloh Industries Inc. and Twin City Die Castings Co.
Key Questions Answered in This Report
1. What was the size of the global automotive parts magnesium die casting market in 2023?2. What is the expected growth rate of the global automotive parts magnesium die casting market during 2024-2032?
3. What are the key factors driving the global automotive parts magnesium die casting market?
4. What has been the impact of COVID-19 on the global automotive parts magnesium die casting market?
5. What is the breakup of the global automotive parts magnesium die casting market based on the production process?
6. What is the breakup of the global automotive parts magnesium die casting market based on the application?
7. What are the key regions in the global automotive parts magnesium die casting market?
8. Who are the key players/companies in the global automotive parts magnesium die casting market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Automotive Parts Magnesium Die Casting Market
6 Market Breakup by Production Process
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Chicago White Metal Casting Inc.
- Dynacast International Inc. (Form Technologies Company)
- Georg Fischer Ltd.
- Gibbs Die Casting Corporation (Koch Enterprises Inc.)
- Meridian Lightweight Technologies
- Morimura Bros. Inc.
- Ortal Diecasting Ltd.
- Pace Industries (Leggett & Platt Incorporated)
- Ryobi Limited
- Sandhar Technologies Limited
- Shiloh Industries Inc
- Twin City Die Castings Co.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( US$ | US$ 3.1 Billion |
| Forecasted Market Value ( US$ | US$ 5.2 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
